Outstanding credit stood at EUR 92 billion at the end of March
2014

Outstanding credits granted by other Finnish
financial and insurance corporations and general government
amounted to EUR 92 billion at the end of March 2014. The stock of
outstanding credits of other financial and insurance corporations
and general government covered around 30 per cent of the stock of
outstanding credit in the entire national economy. This is
indicated by Statistics Finland’s statistics on outstanding
credit.

Lending by financial asset category at the end of
the first quarter of 2014, per cent

Lendersector: Other financial institutions, insurance corporations
and general government

In outstanding credit, the stock of lending in euros and other
currencies amounted to EUR 27 million, bonds at nominal prices to
EUR 58 billion and money market instruments to EUR seven billion.
Of the outstanding credit of EUR ten billion granted by other
financial corporations, the share of lending was EUR nine billion,
which was 33 per cent of total lending by financial and insurance
corporations and general government.

Due to the renewal of the Classification of Sectors 2012, units
from the non-financial corporations sector moved to the target
group of outstanding credit. At the same time, the target group was
revised and the respondent group was updated. The effect of the
classification conversion and updating of the target group on the
data for the quarter was an increase of around EUR 7.7 billion.

Credits granted by Finnish lenders to businesses, non-financial
corporations and households of own-account workers amounted to EUR
18 billion, of which the share of lending was EUR 12 billion.

Households’ outstanding credit was nearly EUR two
billion

Outstanding credits granted by Finnish lenders to households
totalled nearly EUR two billion at the end of March, which is 91
per cent of the credits granted by other financial
corporations.

Only 69,145 new small loans were granted during the
guarter

During the first quarter of 2014, a total of 69,145 new small
loans, or so-called quick loans, were granted to households,
amounting to EUR 44 million. During the quarter, 54 per cent fewer
new loans were granted than in the corresponding quarter last year,
and 22 per cent fewer than in the previous quarter. The average
quick loan in the first quarter of the year amounted to EUR 638 and
the average repayment period was 84 days.

In total, borrowers of small loans paid close on EUR six million
in different types of costs on small loans taken out in January to
March. This was 71 per cent less than in the year before. The costs
directed at small loans were nearly 14 per cent of the granted new
loans during the quarter. In the first quarter of 2014, the
statistics included 58 small loan companies.

The changes in the small loans are the result of a legislation
amendment that came into force on 1 June 2013, based on which a 51
per cent interest rate ceiling was placed on small loans
1) . As a result of this, some small loan companies
closed down their operation and some renewed their services more
towards socalled flexible credits.